Common use of Sale or Lease of Assets Clause in Contracts

Sale or Lease of Assets. Such Borrower will not convey, sell, lease, transfer or otherwise dispose of, in one transaction or a series of transactions, all or substantially all of its business or assets whether now owned or hereafter acquired, it being understood and agreed that any Borrower (or any Material Subsidiary of a Borrower) may transfer Non-Regulated Assets to one or more Wholly-Owned Subsidiaries of Dominion Resources, provided that (i) each such Wholly-Owned Subsidiary remains at all times a Wholly-Owned Subsidiary of Dominion Resources and (ii) the Ratings of Dominion Resources and such Borrower will not be lowered to less than BBB by S&P, Baa2 by Xxxxx’x or BBB by Fitch in connection with or as a result of such transfer.

Sale or Lease of Assets. Such Borrower will not convey, sell, lease, transfer or otherwise dispose of, in one transaction or a series of transactions, all or substantially all of its business or assets whether now owned or hereafter acquired, it being understood and agreed that any Borrower (or any Material Subsidiary of a Borrower) may transfer Non-Regulated Assets to one or more Wholly-Owned Subsidiaries of Dominion ResourcesEnergy, provided that (i) each such Wholly-Owned Subsidiary remains at all times a Wholly-Owned Subsidiary of Dominion Resources Energy and (ii) the Ratings of Dominion Resources Energy and such Borrower will not be lowered to less than BBB by S&P, Baa2 by Xxxxx’x Moody’s or BBB by Fitch in connection with or as a result of such transfer.

Sale or Lease of Assets. Such Borrower will not convey, sell, lease, transfer or otherwise dispose of, in one transaction or a series of transactions, all or substantially all of its business or assets whether now owned or hereafter acquired, it being understood and agreed that any Borrower (or any Material Subsidiary of a Borrower) may transfer Non-Regulated Assets to one or more Wholly-Owned Subsidiaries of Dominion ResourcesEnergy, provided that (i) each such Wholly-Owned Subsidiary remains at all times a Wholly-Owned Subsidiary of Dominion Resources Energy and (ii) the Ratings of Dominion Resources Energy and such Borrower will not be lowered to less than BBB by S&P, Baa2 by Xxxxx’x or BBB by Fitch in connection with or as a result of such transfer.

Sale or Lease of Assets. Such The Borrower will not convey, sell, lease, transfer or otherwise dispose of, in one transaction or a series of transactions, all or substantially all of its business or assets whether now owned or hereafter acquired, it being understood and agreed that any the Borrower (or any Material Subsidiary of a the Borrower) may transfer Non-Regulated Assets to one or more Wholly-Owned Subsidiaries of Dominion Resources, provided that (i) each such Wholly-Owned Subsidiary remains at all times a Wholly-Owned Subsidiary of Dominion Resources and (ii) the Ratings of Dominion Resources and such the Borrower will not be lowered to less than BBB by S&P, Baa2 by Xxxxx’x or BBB by Fitch in connection with or as a result of such transfer.

Sale or Lease of Assets. Such Borrower will not convey, sell, lease, transfer or otherwise dispose of, in one transaction or a series of transactions, all or substantially all of its business or assets whether now owned or hereafter acquired, it being understood and agreed that any Borrower (or any Material Subsidiary of a Borrower) may transfer Non-Regulated Assets to one or more Wholly-Wholly- Owned Subsidiaries of Dominion Resources, provided that (i) each such Wholly-Owned Subsidiary remains at all times a Wholly-Owned Subsidiary of Dominion Resources and (ii) the Ratings of Dominion Resources and such Borrower will not be lowered to less than BBB by S&P, Baa2 by Xxxxx’x or BBB by Fitch in connection with or as a result of such transfer.

Sale or Lease of Assets. Such Borrower will not convey, sell, lease, transfer or otherwise dispose of, in one transaction or a series of transactions, all or substantially all of its business or assets whether now owned or hereafter acquired, it being understood and agreed that any Borrower (or any Material Subsidiary of a Borrower) may transfer Non-Regulated Assets to one or more Wholly-Owned Subsidiaries of Dominion ResourcesEnergy, provided that (i) each such Wholly-Owned Subsidiary remains at all times a Wholly-Owned Subsidiary of Dominion Resources Energy and (ii) the Ratings of Dominion Resources Energy and such Borrower will not be lowered to less than BBB by S&P, Baa2 by Xxxxx’x Mxxxx’x or BBB by Fitch in connection with or as a result of such transfer.